This is GREAT news for anyone who’s ever wanted to have a USAA Membership :)
*UPDATE: As of August, 2013, USAA’s banking no longer open to non-military :( It’s unfortunate that USAA membership is restricted. See comment #19 by USAA Rep John Hancock down below (yes, real name! :))
Consumerist “broke the news” on Monday (although one of my favorite twitterati, @AskJune_USAA, says it’s been around for a while?), and I checked out their site and indeed it’s true! The stars have aligned and USAA is now open to the general public.
USAA Membership Requirements & Access
Non-Military folks don’t get access to *everything* they have, but pretty damn close. It would be enough for me to change over if I was unhappy w/ my current getup! Here’s a list of everything via their Become A Member link (at the bottom under “Other Individuals”):
USAA’s investment products, most bank deposit products, life insurance, and shopping and discounts are available to other individuals. While auto and property insurance policies are not available due to membership eligibility requirements, we can still help. USAA’s General Agency has a 20-year relationship with Progressive insurance.
The following products are available to other individuals:
Product Availability Insurance
- Life insurance
- Auto insurance not available through USAA. Please call 1-888-870-8096.
- Property insurance not available through USAA.
- Teen Checking
- College Checking
- Certificates of Deposit (CDs)
- CD IRAs
- Youth Savings
- Prepaid Card
Investments All products Shopping and Discounts All products
I can’t tell you how excited I am for this! Seriously, It’s like getting asked out by Megan Fox (only dorkier). If you’ve ever wanted to join, or know of anyone who does, now’s the time baby! Get ready for awesome rates, plenty of options, free* atm withdrawals!, and the most important: Excellent customer service. I’ve probably called them at least 100 times before, if not more, and only once was I surprised with bad service. I’m telling you, they rule. And I’m not getting paid to say that (though that would be nice! haha…).
There really is a reason I have 15 accounts with USAA – they know how to rock the business. We have our savings (2), checkings (2), roths (2), money market, credit cards (2), heloc, insurances, etc, and I’ll continue using them for as long as they’ll let me ;) But ask around and learn for yourself. If anyone reading uses USAA, what do you think of them? Are you happy?
Whether you use USAA or not, just know that it’s now an option. That’s really the point of me expressing my undying love for them here. If you’re completely satisfied with what you’ve got, great! Leave it alone and be happy. If not, might be worth checking out?
PS: Major thanks to donkee for the heads up on this!
*USAA does not charge a fee for the first 10 ATM withdrawals and refunds up to $15 in other banks’ ATM usage fees each month. A 1% foreign transaction fee applies to withdrawals outside the United States.
UPDATE: As of August, 2013, USAA’s banking no longer open to non-military :( See comment #19 by USAA Rep John Hancock down below (yes, real name! :))
UPDATE #2: Here’s now who’s eligible as of Feb, 2017:
All men and women currently serving in the U.S. military (active duty and reserve).
- Military retirees.
- Veterans who received honorable discharges.
- Cadets and midshipmen at service academies, in advanced ROTC or on ROTC scholarship, and officer candidates within 24 months of commissioning.
- Members of certain federal agencies, such as the FBI.
Once membership is established, it can be passed on to the next generation.
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!